Ford Mtr Co Del · NYSE:F
Ford Mtr Co Del — Ford Motor Credit Company — Q1 2022 Earnings Presentation
17 slides from Ford Mtr Co Del's earnings presentation, Apr 27, 2022
Slide 1: Q1 2022 Earnings Review
Q1 2022 Earnings Review April 27, 2022 2022 Ford Maverick Hybrid XLT 1
Slide 2: Information Regarding This Presentation
Information Regarding This Presentation FORWARD-LOOKING STATEMENTS This presentation includes forward-looking statements. Forward-looking statements are based on expectations, forecasts, and assumptions by our management and involve a number of risks, uncertainties, and other factors that could caus
Slide 3: Key Metrics
Key Metrics Best-in-class finance company Auction Values (Per Unit) * U.S. Retail LTR Ratio (%) $30,380 $30,300 $28,715 $28,245 • FordPro FinSimple continues 0.37% to expand services to $22,955 $21,410 commercial customers: 0.22% 0.07% 0.08% − Credit line growth of (0.07)% 0.00% 20% YoY in North Q4
Slide 4: Q1 2022 Net Receivables Mix
Q1 2022 Net Receivables Mix ($B) Net Investment in Operating Leases Consumer Financing Non-Consumer Financing $117.4 • Receivables declined $9.7B YoY, resulting from lower $24.4 $94.0 volume due to supply constraints $24.2 • Operating lease portfolio was 21% of total net receivables $71.2 $54.8 $18.
Slide 5: U.S. Origination Metrics And Credit Loss Drivers
U.S. Origination Retail & Lease FICO and Retail Repossessions (000) and Metrics And Higher Risk Mix (%) Repossession Rate (%) Higher Risk Portfolio Mix (%) Repossession Rate (%) Credit Loss 748 747 751 754 749 Drivers 735 6% 6% 5% 5% 5% 5% 5 5 4 • Disciplined and consistent 1.01% 3 3 3 0.92% underwr
Slide 6: Worldwide Credit Loss Metrics
Worldwide Credit Loss Net Charge-Offs ($M) and LTR Ratio (%) Metrics LTR Ratio (%) $88 0.32% • Worldwide credit loss metrics $41 $14 $18 remain strong and below $1 $9 0.16% 0.04% 0.06% 0.08% year ago levels, reflecting 0.00% continued low losses Q4 2020 Q1 2021 Q2 2021 Q3 2021 Q4 2021 Q1 2022 • Cred
Slide 7: U.S. Lease Metrics
U.S. Lease Metrics Lease Return Volume (000) and Return Rates (%) Lease Placement Volume (000) 24-Month Return Rate (%) 36-Month 39-Month / Other 53 51 62 62 57 • Auction values up 32% YoY, 11 10 11 55 44 36 43 reflecting continued strong 16 12 12 62% demand for used vehicles 47 41 37 61% 21 16 and
Slide 8: Cumulative Maturities At March 31, 2022
Cumulative Maturities At March 31, 2022* ($B) • Strong balance sheet is Assets Debt inherently liquid with cumulative debt maturities $134 having a longer tenor than $108 $116 asset maturities $85 $86 $69 • $72B of $134B assets are $56 $43 unencumbered Apr – Dec 2022 2023 2024 2025 & Beyond Unsecure
Slide 9: Funding Structure – Total Net Receivables
Funding Structure – 2021 2022 Total Net Dec 31 Mar 31 Receivables ($B) Term Unsecured Debt $ 59.4 $ 55.1 Term Asset-Backed Securities 45.4 47.1 • Well capitalized with a strong Ford Interest Advantage / Retail Deposits 12.9 13.3 balance sheet; $28B in net Other (0.2) 1.7 liquidity Equity 12.4 12.1 •
Slide 10: Public Term Funding Plan ($B)
Public Term Funding Plan ($B) • Completed $7B of public 2020 2021 2022 Through issuance in 2022 Actual Actual Forecast Apr 26 • Strong balance sheet and substantial liquidity provide funding flexibility Unsecured $ 14 $ 5 $ 8 - 11 $ 4 Securitizations* 13 9 6-9 3 Total $ 27 $ 14 $ 14 - 20 $ 7 * Inclu
Slide 11: Cautionary Note On Forward-Looking Statements
Cautionary Note On Forward-Looking Statements Statements included or incorporated by reference herein may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on expectations, forecasts, and assumptio
Slide 12: Appendix
Appendix EBT By Segment A2 Financing Shares And Contract Placement Volume A3 Liquidity Sources A4 Definitions And Calculations A5
Slide 13: EBT By Segment ($M)
EBT By Segment ($M) Q1 H / (L) 2022 2021 * Results United States and Canada segment $ 783 $ (213) Europe segment 69 3 All Other segment (174) (159) Total segments $ 678 $ (369) Unallocated other 76 161 Earnings before taxes $ 754 $ (208) Taxes (85) 32 Net income $ 669 $ (176) Distributions $ 1,000 $
Slide 14: Financing Shares And Contract Placement Volume
Financing Shares And Contract Placement Volume Q1 2021 2022 Share of Ford Sales* United States 47 % 45 % Canada 60 60 U.K. 35 34 Germany 37 33 China 41 44 Wholesale Share United States 72 % 73 % Canada 13 8 U.K. 100 100 Germany 91 92 China 66 65 Contract Placement Volume - New and Used (000) United
Slide 15: Liquidity Sources ($B)
Liquidity Sources ($B) 2021 2021 2022 Mar 31 Dec 31 Mar 31 Liquidity Sources Cash $ 14.1 $ 12.4 $ 11.9 Committed asset-backed facilities 38.2 37.1 36.1 Other unsecured credit facilities 2.5 2.7 2.8 Total liquidity sources $ 54.8 $ 52.2 $ 50.8 Utilization of Liquidity Securitization & restricted cash
Slide 16: Definitions And Calculations
Definitions And Calculations ABS capacity in excess of eligible receivables and other adjustments (as shown in the Liquidity Sources table) Includes asset-backed capacity in excess of eligible receivables; cash related to the Ford Credit Revolving Extended Variable-utilization program (“FordREV”), w
Slide 17: Definitions And Calculations
Definitions And Calculations Securitization & restricted cash (as shown in the Liquidity Sources table) Securitization cash is cash held for the benefit of the securitization investors (for example, a reserve fund). Restricted cash is primarily held to meet certain local government and regulatory re
Ford Motor Credit Company — Q1 2022 Earnings Presentation on 6ix